Lippo Malls Lippo Malls Indonesia Indonesia Retail T etail Trust - PowerPoint PPT Presentation

Lippo Malls Lippo Malls Indonesia Indonesia Retail T etail Trust ust 2Q 2018 Results Presentation 2 August 2018

Disclaimer Disclaimer Certain statements in this presentation concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These forward-looking statements reflect our current views with respect to future events and financial performance and are subject to certain risks and uncertainties, which could cause actual results to differ materially from historical results or those anticipated. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in the Indonesian retail industry including those factors which may affect our ability to attract and retain suitable tenants, our ability to manage our operations, reduced demand for retail spaces, our ability to successfully complete and integrate potential acquisitions, liability for damages on our property portfolios, the success of the retail malls and retail spaces we currently own, withdrawal of tax incentives, political instability, and legal restrictions on raising capital or acquiring real property in Indonesia. In addition to the foregoing factors, a description of certain other risks and uncertainties which could cause actual results to differ materially can be found in the section captioned "Risk Factors" in our preliminary prospectus lodged with the Monetary Authority of Singapore on 19 October 2007. Although we believe the expectations reflected in such forward-looking statements are based upon reasonable assumptions, we can give no assurance that our expectations will be attained. You are cautioned not to place undue reliance on these forward-looking statements, which are based on the current view of management on future events. We undertake no obligation to COPY FOR ASTRA INTERNATIONAL publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise. 1

Financial Highlights Portfolio Performance Growth Outlook 2

Key Key Highlight Highlights Con ontinue tinued P d Positi ositive e Gr Growth th in in Tota otal l Gr Gross oss Reven enue ue an and d Ne Net t Pr Prop oper erty ty In Inco come me in Rp in Rp ter terms ms Rp’million 2Q 2018 2Q 2017 % Change 1H 2018 1H 2017 % Change Total Gross Revenue 1 551,046 475,296 15.9 1,055,094 932,247 13.2 Net Property Income 452,039 446,103 1.3 902,987 879,443 2.7 But ut Ne Nega gated ted by by Wea eaken ened ed Rup upiah a iah aga gainst SG inst SGD an and impac d impact t of of New New Tax ax Regu gula lation tion COPY FOR ASTRA INTERNATIONAL New tax regulation introduced in Indonesia Rupiah weakened 9.7% January 2018, mandated a 10% against Singapore Dollar in 2Q Increase in Total tax on service charges and 2018 vs 2Q 2017 Operating Property utilities recovery charges 2Q 2018 2Q 2017 Expenses notwithstanding that such IDR/SGD 10,459.47 9,534.19 collection of income and maintenance of the malls are outsourced to 3 rd parties. He Henc nce e Resulted esulted in in Distributable income declining from S$25.4 million to S$16.8 million, and DPU declining from 0.90 cents to 0.59 cents 1 Gross Revenue includes Gross Rental Income, Carpark Income Service Change and Utilities Recovery and Other Rental 3 Income for FY2018, and for FY2017, Gross Revenue includes Gross Rental Income, Carpark Income and Other Rental Income

Key Key Fina Financ ncial ial Per Performa formanc nce 2Q 2018 2Q 2017 ( Rp’million ) ( Rp’million ) 2Q 2018 2Q 2017 % % (S$‘000) (S$‘000) Variance Exchange Rate: Exchange Rate: Variance 10,459.47 9,534.19 Gross Rental Income 41,380 41,896 (1.2) 433,269 399,132 8.6 Carpark Income 52,516 47,150 11.4 5,013 4,946 1.4 Other Rental Income 536 3,044 (82.4) 5,874 29,014 (79.8) Service Charge and Utilities Recovery 5,721 - n.m. 59,387 - n.m. Total Gross Revenue 52,650 49,886 5.5 551,046 475,296 15.9 COPY FOR ASTRA INTERNATIONAL Property Management Fee (2,105) (1,708) (23.2) (22,045) (16,280) (35.4) Property Operating and Maintenance (4,150) - (43,558) - n.m. n.m. Expenses Other Property Operating Expenses (33,404) (12,913) (3,242) (1,355) n.m. n.m. Total Property Operating Expenses (9,497) (3,063) (99,007) (29,193) n.m. n.m. Net Property Income 43,153 46,823 (7.8) 452,039 446,103 1.3 Distributable Income to Unitholders 16,816 25,403 (33.8) Distribution Per Unit (cents) ¹ 0.59 0.90 (34.4) Annualised Distribution Yield ² 8.0% Notes: 1. Based on 2.851 billion units in issue as at 30 June 2018 4 2. Based on a closing price of S$0.315 as at 29 June 2018

Gro Gross ss Rev Reven enue ue an and d NPI NPI Gross Revenue (S$’000) 197,376 5.0% 8.7% 26.3% 49,298 49,605 5.5% 188,066 173,004 52,650 49,886 136,985 48,587 49,123 COPY FOR ASTRA INTERNATIONAL FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 Net Property Income (S$’000) 184,251 7.2% 8.4% 44,930 25.8% 46,419 (7.8%) 171,860 158,565 46,823 43,153 126,007 46,079 43,948 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 5

Distribut Distr ibution ion Distributable Income to Unitholders (S$’000) 96,960 1.6% 11.6% 22,286 25.8% 24,151 95,468 (33.8%) 85,553 25,403 68,014 16,816 25,120 19,018 COPY FOR ASTRA INTERNATIONAL FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 DPU PU (Sing (Singapo pore C e Cen ents) ts) 3.44 Based on closing 0.9% 10.0% price of S$0.315 12.3% 0.79 as at 29 June 2018, annualised 0.86 distribution yield was 8.0% (34.4%) 3.41 3.10 2.76 0.90 0.59 0.89 0.67 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 6

Balan Balance ce She Sheet et 30 June 2018 31 December 2017 S$’million S$’million 1,877.0 1 1,930.4 1 Non Current Assets Current Assets 152.2 133.5 Total Debt 730.0 695.0 Other Liabilities 186.0 200.9 Total Equity 1,113.1 2 1,167.9 2 COPY FOR ASTRA INTERNATIONAL Gearing Ratio 36.0% 33.7% Total Units In Issue (million) 2,851.2 2,824.0 Net Asset Value (per unit) 3 29.93 cents 32.16 cents Notes: 1. Included in the Non Current Assets are the Investment properties of S$1,856.6 million as at 30 June 2018 and SGD1,908.1 million as at 31 December 2017. The carrying values of the properties are stated based on the independent valuation as at 31 December 2017 and adjusted for property enhancements to-date. The valuations and property enhancements figures are recorded in the financial statements in Indonesian Rupiah and translated into Singapore Dollars using the respective exchange rate as at the end of each period. Total equity is represented by Unitholder’s funds of $853.5 million and Perpetual securities of $259.6 million as at 30 June 2. 2018 and Unitholder’s funds of S$908.3 million and Perpetual securities of S$259.6 million as at 31 December 2017. Net Asset attributable to Unitholders (per unit) is calculated as Unitholder’s funds over the units issued at the end of the 3. period. 7

Distr Distribut ibution ion Det Details ails 0.59 cents Total DPU 0.32 cents - Tax-Exempt COPY FOR ASTRA INTERNATIONAL 0.27 cents - Capital Books Closure Date 13 August 2018 Tentative Distribution Payment Date: 29 August 2018 Since listing in Nov 2007, LMIR Trust has maintained a payout policy of 100% of distributable income. 8

Financial Highlights Portfolio Performance Growth Outlook 9

A Growing A Gro wing Por Portfolio tfolio Por ortf tfolio olio Valua aluation tion ( Rp‘billion ) 19,475 18,124 CAGR 17,764 17,257 13.2% 13,769 13,574 10,667 7,636 7,077 6,403 COPY FOR ASTRA INTERNATIONAL 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Number Number of of P Prope operti ties es 30 27 26 24 23 23 17 15 15 15 10 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 10

Str Strat ateg egically ically Lo Loca cate ted d Por Portfolio tfolio COPY FOR ASTRA INTERNATIONAL 23 Retail Malls 7 Retail Spaces Retail Malls 11 Retail Spaces